Consumer Hero vs. Big Pharma – Who Wins?

October 13, 2009

drugs and moneyBy Terry Smiljanich:

For more than 20 years Dr. Dennis Mangano, a California anesthesiologist, has waged a lone battle against major drug manufacturers.  His major weapon was a unique patient data base he compiled involving thousands of surgery patients from around the world. Thanks to his tireless efforts, unsafe drugs have been taken off the market.

But Dr. Magnano’s good work took a  major hit when Pfizer, one of the country’s biggest drug companies, secretly obtained his data base from a traitorous employee.  The doctor was forced to sue the company for justice. At the end of a jury trial, Dr. Mangano won and Pfiser suffered a $58 million judgment against it. Happy ending? Read on.

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Why are Americans So Mad?!!

October 9, 2009

By Angie Moreschi:

There certainly is a lot to be mad about these days, but why has it become so common to be so public about it? We’re seeing short fuses everywhere from town hall meetings to the tennis court.  What’s up with America’s sense of outrage?  Click here to learn more and watch the story above by CWN’S Angie Moreschi.

Credit Card Outrage

October 7, 2009

By Angie Moreschi:

Credit card companies are jacking up interest rates and increasing minimum monthly payments in a last ditch effort to shake down consumers before a new law takes effect, which will force them to stop abusive practices.  Click here to learn more and watch the video above.

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Don’t Get Mad, Get Even: How To Complain Effectively

October 2, 2009

angry manBy: John Newcomer

Most people would rather have a root canal than complain about a defective product, an overcharge, or unsatisfactory service.  Their reluctance is easily understood.  Companies have made it extremely difficult to complain.  How many of us dread the thought of the ever present “phone tree.”  To successfully maneuver through the tedious steps of the phone tree options requires the patience of Job and the cunning strategy of an Army general.

First you must wait the obligatory 10 minutes, because every company seems to be experiencing extremely high call volume.  Then it is “phone tree” time.  All the time you are going through punching numbers, listening to the next instruction, punching in the next number, you know deep down inside that you will either get disconnected or there will be no option for complaining.

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Mortgage Lenders Deny 1 in 3 Applications

October 1, 2009

By Angie Moreschi:

It wasn’t just your imagination. It’s been tough going to get a new mortgage or refinance, according to a new Federal Reserve report. Lenders made it harder for borrowers by tightening up qualifications, despite billions in taxpayer bail-out dollars that were supposed to loosen up lending.

The Federal Reserve report shows nearly one in three borrowers who applied for a mortgage last year was denied.  In the annual report on mortgage practices among the nation’s lending institutions, the Fed says the denial rate for all home loans was about 32 percent last year — about the same as in 2007, but up from 29 percent in 2006.

The denial rates for Blacks and Hispanics were more than twice as high as the rate for white borrowers.

The report highlights massive changes in the lending industry after the housing market bust. Overall loan applications were down by a third from a year earlier, and were half the level in 2006.

The data, collected from nearly 8,400 lenders, is required under the Home Mortgage Disclosure Act of 1975.

Click here to read more.

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